By TIOL News Service

NEW DELHI, APR 21, 2015: IT was decided by the Government to link the interest rates of State PFs (General Provident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975) for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 to Public Provident Fund (PPF) rates. In pursuance of that decision, the Government has decided to fix the rates 8.7% per annum applicable to the following:-

++ The General Provident Fund (Central Services).

++ The Contributory Provident Fund (India).

++ The All India Service Provident Fund.

++ The State Railway Provident Fund.

++ The General Provident Fund (Defence Services).

++ The Indian Ordnance Provident Fund.

++ The Indian Ordnance Factories Workmen's Provident Fund.

++ The Indian Naval Dockyard Workmen's Provident Fund.

++ The Defence Services Officers Provident Fund.

++ The Armed Forces Personnel Provident Fund.

The rate of interest is applicable to the above funds w.e.f. 1 st April, 2015 and until further orders.

Recently, the Government had kept the interest rates for PPF and other Small Savings Schemes intact.  However, interest rates for 5 year Senior citizen Saving Scheme and Sukanya Samriddhi Account Scheme have been increased from 9.2 to 9.3% and 9.1 to 9.2% respectively, keeping in view the commitment of the Government towards the welfare of the girl child and the senior citizens.